| Term | Definition |
|---|---|
| Point of Sale (POS) |
The point of sale (POS) is the location where a customer made a payment for goods or services. In a typical brick-and-mortar store, the point of sale would be the checkout counter where customers scan their cards using the merchant's POS system. Such systems may be self-contained payment terminals or software on a phone or computer equipped with an EMV reader. |
